The Department of Financial Services supervises many different types of institutions. Banking Institutions | Department of Financial Services The program was designed to encourage the establishment of bank branches in areas across New York State with a demonstrated need for banking services. NYR - FB 2 -- REPRESENTATIVE OFFICES OF FOREIGN BANKING CORPORATIONS New York State Initiatives. Each license issued under this article shall state the address or addresses at which a representative is to be located and shall state fully the name of the licensee. They must provide customers with information about their policies and fees. Except as provided in subdivision two of this section, no license shall be revoked or suspended except after notice and a hearing thereon. 2.7 Exemption from licensing and prior notice procedure for establishment of office performing limited administrative function. Basic Banking: All New York State banks are required by law to offer low-cost or "lifeline" accounts called Basic Banking Accounts. Representative. Filing of Affidavit of Payment of Capital Stock in the office of the Superintendent (Section 4004). Be part of a dynamic team shaping the future . NYR - 102.1 General information. If you have any questions about performing a search or the results you receive, please contact the NYS Department of State, Division of Corporations at (518) 473-2492, Monday - Friday, 8:45AM - 4:30PM Eastern Standard Time. 2.5 Prior notice for regional administrative offices. A foreign banking corporation seeking to obtain a license to establish, maintain or use a regional administrative office under proposed Supervisory Policy FB 2.4 and Supervisory Procedure FB 102.4 or a foreign banking corporation currently maintaining a New York State-licensed branch or agency seeking to obtain a license to establish a representative office should submit the information and documents required under Parts A. Commissioner Charles G. Cooper. " nyc rezoning commitments tracker " nyc rezoning commitments tracker. Application for license; fees. Designation of banking depositaries by the Superintendent (Section 106) upon receipt and processing of proper application (Supervisory Procedure CB 109). No person, co-partnership, association, corporation or other entity shall establish, maintain or use one or more offices in this state as the representative of one or more foreign banking corporations unless the foreign banking corporation to be represented has first obtained a license from the superintendent of Financial Services. If you are a Prelicensing or Continuing Education Provider looking for Resources related to registration, renewals or filings please visit the Insurance Education Provider section of our website. at least one hour of ethics and professionalism instruction. Such books, accounts and records shall be preserved for at least three years; provided however, that preservation by photographic reproduction thereof or records in photographic form shall constitute compliance with the requirements of this section. (isy) (isy) The purpose of the law is to encourage the establishment of bank and credit union branches within such a banking development districts to enhance access by consumers to banking services and promote local economic development. Certificates of Designation of Notice of Claim may be filed online. Provide a summary profile of the applicant's home country, including a description of: (4) authorizing the designation of the person to whom process may be forwarded by the Superintendent; (p) a duly executed instrument appointing the Superintendent the applicant's true and lawful attorney for the service or process; (q) a certificate of designation, specifying the name and address of the person to whom process may be forwarded by the Superintendent; (r) an affidavit of the proposed representative (s) describing any legal proceedings against him or her; (s) two duly authenticated copies of applicant's charter and by-laws or the equivalent thereof; (t) an opinion of a member of the Bar of the State of New York stating that the activities of the proposed representative office are in compliance with section 221-a. Select whether you want to search for the base word or a name that contains certain words. Individual Original/TBA License Application, Cybersecurity Resource Center and Producers Cybersecurity FAQs, Insurers must report suspected fraud electronically via FCMS, Application for Written Consent to Engage in the Business of Insurance, Accessibility & Reasonable Accommodations. A foreign banking corporation which maintains a New York state-licensed branch or agency may, unless otherwise advised by the Superintendent, obtain a license to establish a representative office in this state with 45 days prior written notice to the Superintendent. File a complaint against your bank. 114 Broad Ave LLC. Please contact one of our customer service representatives to find out why we are the Bank for you. The applicant may, of course, submit any information in addition to that required which it deems pertinent to the application. We believe you will find it helpful to discuss your proposal with us prior to the preparation of a formal application. An opinion of a member of the bar of the applicant's home country that: (a) applicant's charter authorizes it to conduct the activities permitted to the proposed representative office; and. Any application or notice prepared in accordance with this form should refer to the item numbers listed when supplying the information requested therein. Certain not-for-profits are required by law to file financial reports with the New York Department of State. A foreign banking corporation may, unless otherwise advised by the superintendent, obtain a license to establish a regional administrative office in this state with 45 daysprior written notice to the Superintendent. Applications, Forms & Publications. If the superintendent shall not so find, the license shall not be issued, and the applicant shall be notified of the denial. Farmers Insurance Retreat From Florida Signals - The New York Times The Banking Development District or BDD program is a program designed to encourage the establishment of banking branches in areas across New York State where there is a demonstrated need for banking services, in recognition of the fact that banking institutions can play an important role in promoting individual wealth, community development, and. Other Regulators | Department of Financial Services (4) an English language copy of the applicant's latest annual report; (2)economic ties with Export-Import Bank, International Monetary Fund, World Bank and other similar organizations; (3) foreign trade, including balance of payments with the United States and other countries; and. Authority of superintendent. All fees must be paid by cash, check, money order, MasterCard, Visa or American Express. This is not a blank form to be filled in. Farmers is ending some policies in the Sunshine State as insurers struggle with the rising costs of covering climate change-related . New York State Department of Financial Services Company Profile 2.4 Other activities. If you couldn't find your bank using the steps above, it is not regulated by the OCC. Search Our Corporation and Business Entity Database. Supervision by DFS may entail chartering, licensing, registration requirements, examination, and more. 6. NYL - 221-d. The Community Reinvestment Act, or CRA, is both a state and federal law that encourages banks to meet the credit needs of all communities, including low and moderate-income areas. Unlicensed/out-of-state insurers may use a hard copy. The Department of Financial Services supervises many different types of institutions. The expenses incurred in making any examination pursuant to this section shall be assessed against and paid by the licensee so examined, except that traveling and subsistence expenses so incurred shall be charged against and paid by licensees in such proportions as the superintendent shall deem just and reasonable, and such proportionate charges shall be added to the assessment of the other expenses incurred upon each examination. This page is available in other languages, Corporation and Business Entity Search Database. Supervision by DFS may entail chartering, licensing, registration requirements, examination, and more. Supervision by DFS may entail chartering, licensing, registration requirements, examination, and more. (a) brief history of the applicant; (b) ranking by asset size in the home country; (c) number of offices in the home country; (d) organization structure of the applicant (including shareholders directly or indirectly owning or controlling 10% or more of the capital stock of the applicant, its affiliates and any agencies, branches or representative offices of the applicant in the United States and other countries); (e) management structure, including board of directors and principal officers of the applicant. Existing Corporations and Businesses | Department of State Visit the Cybersecurity Resource Center and Producers Cybersecurity FAQs to learn more. New York State Department of Financial Services Company Profile Applicants may, for good reason, request that certain portions of the application be held confidential. MORE DISASTER RELIEF RESOURCES. (a) "affiliate" means any company that controls, is controlled by or is under common control with such foreign banking corporation; (b) "banking institution" means any entity authorized by its charter to accept deposits and to make loans; (c)"control" means the direct or indirect ownership, holding or control with power to vote of 25% or more of any class of voting stock or the ability to elect a majority of the directors of a company; (d) "foreign banking corporation" means any banking institution organized under the laws of any jurisdiction other than the United States, any state of the United States, the District of Columbia, any territory of the United States or Puerto Rico; and. Who We Supervise - DFS Portal - Government of New York Coinbase Custody will operate as a Limited Purpose Trust Company chartered by the New York Department of Financial Services (NYDFS). The database identifies the individuals who serve the listed non-lobbying entities as Chief Executive Officer, Chief Financial Officer, and Chief Operating Officer, or in positions that are the functional equivalents; are owners or partners with at least 10% interest in the entity; or are senior managers who oversee the entity's business relatio. Supervision by DFS may entail chartering, licensing, registration requirements, examination, and more. A total of 27 BDD branches and 39 community organizations responded to the survey; 16 financial institutions, 11 community organizations, and seven public officials testified and/or submitted testimony for the public hearings. A bank or credit union must apply in conjunction with a local government (county, town, city or village) for the designation of a BDD area. The applicant must maintain policies and procedures designed to ensure and monitor compliance with the Bank Secrecy Act (BSA) as amended by the USA PATRIOT Act and the anti-money laundering programs of Part 115 of the General Regulations of the Banking Board. Unless otherwise advised by the Superintendent, if a foreign banking corporation already maintains a licensed branch or agency in this state it may establish an office that engages solely in limited administrative functions in connection with its banking activities that do not involve contact or liaison with customers or potential customers (such as back office support systems), by notifying the Superintendent within 45 days of establishing such office. (a) The activities that may be conducted by a representative office of a foreign banking corporation in this State on behalf of such foreign banking corporation shall be limited to the following: (b) Notwithstanding the foregoing, a representative office may not engage in a banking business or trading activities for the account of the foreign banking corporation, or, on behalf of the foreign banking corporation, make final credit decisions (except in the case of a regional administrative office), execute documents for or solicit loans in principal Amounts of less than $250,000, disburse funds, transmit funds, accept loan repayments or solicit, accept or contract for deposits or deposit-type liabilities. Accessibility & Reasonable Accommodations. As the Department relies upon information provided to it, the information's completeness or accuracy cannot be guaranteed. Effective November 12, 2021, the Department of Financial Services amended Part 20 of the Official Compilation of Codes, Rules and Regulations (Regulations 9, 18 and 29), mandating the completion of certain courses to renew the insurance license. Conditions precedent to issuing license; procedure where application denied. Every license issued hereunder shall remain in force and effect until the same shall have been surrendered, revoked or suspended in accordance with the provisions of this article, but the superintendent shall have authority to reinstate a suspended license or to issue a new license to a licensee whose license shall have been revoked if no fact or condition then exists which would have warranted the superintendent in refusing originally to issue such license under this article. 5. Describe the management and staffing of the office and the manner in which the office will be supervised by the applicant, including the number of persons to be employed, their capacities and names and brief biographies of key personnel. Notice of acquisition of control or merger. (b) the application complies with the laws of the applicant's home country. The Department of Financial Services supervises many different types of institutions . The Department of Financial Services supervises many different types of institutions. The application must clearly define the geographical boundaries of the proposed district and must demonstrate not only that the community is in serious need of banking services, but also that this need is not being met by existing nearby financial institutions. $14 $14. 9. The main application should note that such section (or part of such section) is contained in the confidential portion. A statement from the applicant providing the Superintendent with adequate assurances that information will be made available to the Superintendent on the operations or activities of the applicant and any of its affiliates5 that the Superintendent deems necessary to determine and enforce compliance with applicable New York State laws and regulations. The superintendent shall approve or deny every application for a license hereunder within ninety days from the filing thereof provided, however, that failure to act within the prescribed period shall not be deemed approval of any such application. Corporation and Business Entity Search Database - Department of State Financial Reports to Be Filed by Certain Not-for-Profit Business Corporations & Not-For-Profit Corporations, Certificate of Designation for Service of Notice of Claim, Copies of Corporations and Business Entity Filings, Expedited Handling Services for Division of Corporations. Supervision by DFS may entail chartering, licensing, registration requirements, examination, and more. A foreign banking corporation seeking a license to establish or maintain a representative office must submit the following information and documents: (1) brief history of the foreign banking corporation; (2) ranking by asset size in the home country; (3) number of offices in the home country; (4) description of organization structure of the foreign banking corporation (including shareholders directly or indirectly owning or controlling 10% or more of the capital stock of the applicant, its affiliates and any agencies, branches or representative offices of the applicant in the United States and other countries); (5) description of management structure, including board of directors and principal officers of the foreign banking corporation; (6) description of the business of the foreign banking corporation; (1) a consolidated statement of the applicant's financial condition as of a date within 90 days prior to the date of application, certified by the applicant's chief executive or financial officer; (2) audited consolidated financial statements, including statements of income and expense, for the applicant's latest three fiscal years or for the period that applicant has been in business if less than three years, certified by the applicant's chief executive or financial officer, with amounts to be shown in the applicant's local currency and the United States dollar equivalent; (3) calculation of applicant's risk-based capital ratio; and. Today is Insurance License Search * Please type the letters you see above into the empty box below. Other Regulated Entities. Its supervision takes in around 4,400 separate entities including banks and trusts, insurance companies, lenders, mortgage brokers, charities, virtual currency businesses, and more. Part C. Description of the Applicant's Home Country. LLCs making political contributions must file a form with State Board of Signup here to receive the latest announcements from the New York State Division of Corporations, State Records & UCC. The Department of Financial Services supervises many different types of institutions. BL Section 367 (1) provides: "No person, partnership, association or corporation shall engage in the business of cashing checks, drafts or money orders . Doing business without license prohibited. This license will become available on May 1, 2018. Commercial Bank: Information and Procedure - Department of Financial Accessibility & Reasonable Accommodations. Dedicated to Excellence in Texas Banking Since 1905. Letter from the Superintendent Selected Enforcement Actions Our - PTFS Doing Business Search - New York City We'll check your proposed business name against the registry of businesses held by the New York Department of State. A duly executed and acknowledged agreement pursuant to Section 9(b) of the International Banking Act of 1978 attached hereto as Annex H. 13. In fact, between the Apple and Android app stores, it has kept a 4.35-star rating out of 5 over 20,000 customer reviews. 2.6 Prior notice for foreign banking corporations with branch or agency. New York State is one of only a small number of states with its own CRA. Bank Complaint NYC311 New York CRA largely mirrors the federal CRA and was adopted in 1978, one year after the 1977 federal CRA law, largely in response to concerns about the existence of redlining of poor and minority communities by banking institutions during the 1960s and 1970s. NYR - FB 102 -- APPLICATION BY A FOREIGN BANKING CORPORATION FOR A LICENSE TO ESTABLISH OR MAINTAIN A REPRESENTATIVE OFFICE, (Statutory authority: Banking Law 221-c) Sec: Any licensee may surrender any license by delivering to the superintendent written notice that it thereby surrenders such license, but such surrender shall not affect such licensee's civil or criminal liability for acts committed prior to such surrender. Public Inquiry - Government of New York Supervision by DFS may entail chartering, licensing, registration or filing requirements, examination, etc. Upon the filing of an application for a license, if the superintendent shall find that the financial responsibility, experience, character, and general fitness of the foreign banking corporation and its representative are such as to command the confidence of the community and to warrant belief that the representative will operate honestly, fairly, and efficiently within the purpose and intent of this article, a license shall thereupon be issued in duplicate to conduct the activity described in section 221-a of this article in accordance with the provisions of this article. New York State Banking Department Archived Websites B2052 Today, the NYSDFS is the primary regulator for a diverse range of financial institutions. 1.1 General statement Banks and credit unions help people create wealth through savings programs and other banking services. Welcome to National Bank of New York City NYR - FB 1 -- SUPERVISORY POLICY 102.2 Prior consultation 10. Representative offices of foreign banking corporations that were lawfully registered under Article V-B of the Banking Law on or before September 1, 1992 shall be required to obtain a license from the Superintendent to maintain such representative office prior to September 1, 1994. NYL - 221-j. Cemetery & Prepaid Funeral Businesses. (f) description of the business of the applicant. This page is available in other languages. 221-k. Separability of provisions. Part B. The decision as to whether such material will be held confidential, however, will be at the sole discretion of the Superintendent. Banks and credit unionsare a source of capital for local businesses, which promotes job creation; Banks and credit unions are a source of capital for mortgages, which increases home ownership and allows home improvement; Banks and credit unions provide services that allow individuals to cash checks, pay bills, and transmit money more cheaply than other types of financial institutions, such as check cashers; and. An opinion of a member of the Bar of the State of New York stating that the activities of the proposed representative office are in compliance with section 221-a (3) of the Banking Law and Supervisory Policy FB2. 221-f. The Department of Financial Services supervises many different types of institutions and individuals. 102.6 Notice for establishment of an office performing limited administrative functions. The New York State Department of Financial Services (DFS) was created in 2011 through the merger of the New York State Department of Insurance and the New York State Banking Department. You can report a problem with a financial institution. Banking institution. Written notice shall be given to the Superintendent of any Satellite office and the licensed designated person(s)responsible for each satellite office via the Satellite Office Form(PDF) within 15 days following the establishment of a new location, change in address of an existing location or replacement of a designated person. Chinese Hackers Breached Government Email Accounts - The New York Times The Commission designates which banks are eligible for the city funds. A duly executed and acknowledged certificate of designation, specifying the name and address of the person to whom process may be forwarded by the Superintendent in the form attached hereto as Annex F. ( It is recommended that this person be the designated representative and his or her successors.). National Bank of New York City, a Division of Newtek Bank, N.A. The metrics used for the review included written surveys of the participating BDD banks that have been designated under the program and some of the community organizations within those 38 districts, public hearings (upstate and downstate) on the operation of the program and information culled from the annual performance reports submitted by the BDD branches to the Department. To be eligible, a branch must have opened after the area was designated a BDD by the Department, or the branch must have been approved by the Department for a BDD designation and opened on or after January 1, 1997. Proposed representative office location. Superintendent authorized to examine; expenses. Department of State Division of Corporations Search Results. Banks and credit unions that successfully apply for a BDD designation are eligible to receive below market-rate deposits from the state of New York. Regardless of an area's characteristics, it is anticipated that greater access to banking services will encourage the area's residents, who may have no (or limited) banking relationships, to become part of the financial mainstream. Who Regulates My Bank? - HelpWithMyBank.gov Applications and Licensing | Department of Financial Services The superintendent may require such regular or special reports as may be deemed necessary to the proper supervision of licensees under this article. Also include one copy of the application submitted to the Federal Reserve Bank. Search Database Financial Reports to Be Filed by Certain Not-for-Profit . ALiS :: Producer Search - Government of New York Given that Ally is one of the top online banks, it should come as no surprise that its mobile banking app is rated well. Health Services Providers De-Authorized From Billing No-Fault, Approved Paid Family Leave (PFL) Insurance Policy Forms, Internationally Active Insurance Groups (IAIGs), Companies with Approval to use ISO (Insurance Services Office) Public Auto Loss Costs, historical listing of New York banking institutions, Accessibility & Reasonable Accommodations.